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America 11, Tyco 9, Us 8, Obamacare 6, Spiriva 5, Paul 5, Apple 5, Kevin 5, Washington D.c. 5, U.s. 5, Warfarin 4, D.c. City 4, Kozlowski 4, Opec 4, Dennis Kozlowski 4, Copd 3, Washington 3, The City 3, Charlie Kirk 3, Cleaver 3,
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  FOX Business    Varney Company    News/Business.  
   Wall Street news. New.  

    December 4, 2013
    9:20 - 11:01am EST  

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♪ >> unions take a hit. opec in disarray. wal-mart has a very good day and the economy slowing down or speeding up, which is it? good morning, everyone, there's a lot to deal with so here we go. detroit's unionized pensioners will see their benefits cut. watch out other american cities. frack, and floods the world with oil, and opec is split. what's a cartel to do? an on-line shopping binge rolls
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on. wal-mart had its best day ever. and stocks will open lower again? yeah, a big day. "varney & company" is about to begin. hi honey, did you get e toaster cozy? yep. got all the cozies. [ grandma ] th n fedex one rate, i could ll a box and ship it r one flat rate. so i kn untilt was full. you'd be crazy not to. is tt nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. [ male announcer ] fedex one rate. every day we're working to and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger.
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>> here we go. fire up the political spin machine. president obama kicks off a three-week speaking campaign and starts today in washington. with an approval rating at all-time lows, today you will see a push for income equality. and there will be more damage control on obamacare, too. the left is seizing on the equality issue, demanding higher wages by legislation. the d.c. city council just approved an increase in the minimum wage to 11.50 an hour eventually, one of the highest in the nation. tomorrow, fast food workers demanding better wages, too, $15 an hour. all of this as wal-mart opens its first two stores in d.c. today. 600 people hired, more than 23,000 applied for those jobs.
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the d.c. city council wanted to keep wal-mart out. come january, extended jobless benefits fob for 1.3 million people expire, no more government checks. will the democrats fight to keep the money flowing? good questions. we've got other headlines. former tyco chief dennis kozlowski is in prison for improper use of money. rightly or 0 wrongly, he was the poster boy for corporate greed. and 180,000 bucks on booze, that's government. used the money allocated in your budget or lose it. last one, again with spending, the new york yankees opened their wallet and signed outfielder jacoby ellsbury seven years, 142 million dollars. after the biggest drop in the month. first losing streak since
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september. that doesn't mean there aren't winnings there. wal-mart winning big on-line and even j.c. penney sales were jumping. we'll check the stocks. first this, the girl who was banned from selling mistletoe spoke out on fox news, "the five" last night. she's a capitalist. listen to this. >> what is it about? it is about people that are being able to beg, but i can't raise money, work hard, have a good work ethic, but they can beg. in today's markets, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason
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♪ >> we played bruce string-- springsteen, that leftist? oh, dear. and we'll check the wal-mart stock out in a moment. 30 seconds until the opening bell, come in larry levin, we've got strong jobs numbers. adp and what happens? the market goes down. what is this? good news is bad news for the market? >> i mean, i guess you took the words out of my mouth, stewart. all the traders here and viewers were watching for a long time and they know that any kind of good news in the
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market and the economy is going to make the feds start tapering and going to drop the markets. s&p spikes above 1800 are about 15 points below and certainly a little of a selloff we're seeing now based on the good news. stuart: what happens if we get good jobs numbers for the rest of the week. more coming out tomorrow and friday. >> and a lot of selling going on behind me here on the open, stuart, and i think we'll see more of that come friday because i think that number will reflect the adp number and because of that we'll see more of a selloff. more good news, bad news and the s&p will break through support levels, i'll watch for that. stuart: what a pleasure to speak to larry levin this wednesday morning. check the big board, we're down 24, 25 points as we speak at 15-8. got it. wal-mart showing just what brick and mortar stores need to do to survive, go on-line. nicole, i think they have their best on-line day ever on monday and what is the stock doing? >> yeah, i think that president
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obama is calling wal-mart right now for tips. wal-mart is down 1/10 of 1%, record on-line sales for cyber monday for wal-mart, ever. so that's a very big deal. but this really trended over from the thanksgiving, to the black friday and then into monday. stuart: okay. didn't we nearly put j.c. penney on death watch? yes, we. >> oh, yeah. stuart: we almost did. strong november sales sending the stock higher. by the way, this is a charles payne pick, down 2% now. we were thinking that charles would do a victory lap later, but i don't know about that. it's down 2% on strong sales. interesting. we've got some bad pr for google of all people. a group called consumer you search for items using google's shopping fever, instead of a competing search engine, you'll likely pay more. i'm saying there's no impact on the stock. it's down a buck on a $1,000 item. is the u.s. economy growing?
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it's slowly down, is it growing? is that bad for stocks? shah galani and liz macdonald are with me. all right, strong jobs numbers and the market goes down, same old question, are we back to good news on the economy, bad news for the market? >> i think that's part of it, stuart, but i think the economy, to make the airplane analogy, has been going along sort of along and above the foothills. i don't think there's enough wind under the economy's wings which has been-- what has been there has been supplied by the fed. to get this to any altitude, i don't see it happening. the fourth quarter is the last gasp and we'll see where we are and where stocks are probably headed. stuart: you say this rally has run out of steam. as of right now, run out of steam. >> we're taking profits and i see it peaking. i see the first quarter dicey at best. stuart: liz, we usually don't come to you for stock market
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commentary. good news on the economy, bad news or stocks? how do you see it? >> see, i agree with shah. in fact, when i talked to the guys at j.p. morgan chase and goldman sachs, they see a choppy first quarter and possible fed action by march. and you're right. stuart: what a switch, liz? and shah, you, too. what a switch. a week ago we said this market just wants to go up. it just wants to go up and everybody was agreeing with me and now it's run out of steam. >> it's been a momentum market and i think that's been pushing it forward. earnings have been pretty decent, but at some point with the market up 21, 25, 27%, and depending which benchmark you're looking at profits are going to be taken. as we've done the last couple of days looking at asia and europe, i don't think that's going to happen and profit taking through the end of the year. stuart: liz, i've got to ask you. if you were a stock market investor and i don't know whether you are or not, but you're sitting on a nice big fat profit this calendar year, would you be inclined to sell
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today and take your money and run? >> honestly, i started selling last week. stuart: oh, you're so smart. >> time to tell you, full disclosure. stuart: 1.3 million, how many people will lose their long-term unemployment benefits on january the 1st, they'll be wiped off the government dole, out of the economy. liz, does that mean that the unemployment rate will go down? >> yes, j.p. morgan chase out with the numbers, it could go down a quarter point or half a percentage point if these people drop out of the work force. and watch for the president to say the jobless rate is going down if you don't consider that these people are, you know. stuart: that's interesting because that would put the unemployment rate below 7%. >> that's right. stuart: puts it into the fed's target range for not printing some more money. >> you've got to consider janet yellen and doves at the fed and
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will continue printing money because they'll look at labor participation rate, at record lows, not seen since 1978. stuart: oh, that janet yellen. back to the markets, shah galani, an interesting story, one abercrombie investor, he owns 1% of the stock. he says the company needs a new ceo, a new chief. the stock goes straight up. how can one investor have that kind of impact on any company and its stock. shah? >> i don't think it's going to be a long-term impact. abercrombie, as is typical of several of the stocks we've seen rise exponentially in 2013 has a huge short position. there are tremendous shorts after something like 30% of the stock is-- the float has been sorted. so anytime some news comes out, the short is covered and a rally and this is what happened the other day. i think they are less than 1%, stuart, and i'm not encouraged by what they're attempting to do. stuart: hold on a second, shah. i've got liz macdonald waving
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her arms and gesticulating as they say. >> i disagree for abercrombie, the ceo doesn't fit into the theme of things in terms of keeping costs down and getting more people, more shoppers into the store. abercrombie & fitch has a lot of capital expenditure, the stock is not performing well and it has been posting not so great profits and losses in certain measures. stuart: and here is a guy who says he doesn't want fat people in the store. charles: you don't want to alienate. stuart: last word, shah. >> i agree with liz, i don't think see any private equity coming in, i think it's too much cash outlay and it's not a takeover stock here, we'll see the end of the quarter and the first quarter i don't see the stock doing anything, but going down further and i don't see it as an acquisition or takeover target. stuart: there you have it. the ipad a lot item for christmas we're told, not surprising that apple stock hit a high for the year. all right, so, nicole, it's wednesday morning, where is apple stock now?
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>> right now, it's pull back a little bit and we saw apple over the last 24 hhurs really showing its colors, soaring. jason weissberg says from seaport security, never short, in my children had it their way they'd have tons of apple products underneath the christmas tree this year, not getting, just so you know, just saying. stuart: and shah galani come back in again. you see apple going back above, say, 600 soon? >> i see apple going to make new highs by the second quarter. if the stock market holds up i think that apple will outperform everything and i think it's going to be tremendous stock. it has been and-- >> hold on a second. i've got to tie you down. a new high would put apple above 700, you're forecasting there. >> yes. stuart: you are? >> yes, i think the next stop is 650 and i think we could see that maybe in the middle of the first quarter again, provided the market holds up. if the market continues to do better and the momentum returns to the market in the first
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quarter, which i'm a little doubtful of. apple is going to soar and i see it at new highs. stuart: liz macdonald waving her arms again, what? >> i agree, tim cook is positioning apple because he's making acquisitions bringing apple devices to the next level. interesting acquisitions that tim cook is making. stuart: welcome to the show. and the washington d.c. city council voted to raise the minimum wage. that's washington d.c. the wal-mart story ties in with the minimum wage? >> yeah, the city council had gone after raising the minimum wage at the local level, basically undercutting the federal reserve's minimum wage. they're going after wal-mart and the city council there is saying that wal-mart needs to pay its workers more. wal-mart has been having the battle city to city to city and why wal-mart may not open in
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new york city because the city council wants it to raise the minimum wage. stuart: i've got a city council member coming up on the show shortly. check the big board, down it's not a huge selloff, it's a gradual decline. 15-8 on the dow. once she says politics was her religion and now she's turned toward christianity. has it changed her politics? kirsten powers is next. ♪ hark the herald angels sing, glory to the newborn king♪ (announcer) at scottrade, our clients trade and invest exactly how they want. with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office,
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>> after three days of declines where are we this wednesday morning in day number four we're down again, 15-8, we're off 48 points. where is the price of gold? i have to tell you, it's up today, but still dangerously
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close to $1200, now 1227 right now. look at some of the big retailers, they are down big. sears down 8%. pen penny, gap, abercrombie down as well. ebay is a loser as well. it was up earlier in the week after reporting a 32% jump in sales on that so-called cyber monday, but it's down, not much, down a buck at 50 right now. and then we have kirsten powers rediscovering her faith in god. she recently moved from eight theistism to christianity. stuart: i didn't know. >> how did you know the know? isn't is obvious? >> how could you sit there day after day on the fox news channel and defend collectivism. >> i do not defend collectivism. i think there's something wrong, being a christian and being a conservative somehow
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goes together and i don't think that's the case. stuart: i agree. >> as i wrote about it in the christianity today article there's one thing that kept me away from christianity because i did see it as something that was sort of the purview of conservatives and so, i'm not conservative, nothing there for me. stuart: now, you're evangelical christian. >> yeah, yeah. stuart: now, to me, capitalism is a wonderful thing. individuality, and freedom of choice, and i believe that god gives us free choice in our lives. we are free to choose the path that we move along. now, that means to me that christianity has inherently free market aspect to it. and an inherently individualistic aspect to it. >> no. stuart: not the collectivism of president obama. >> i don't think so. i don't see how you go et -- get that out of christianity. stuart: you don't and-- >> it's quite an american-- we have free will, but really, i think what the bible talks about more is that we are all responsible for our brothers
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and our sisters and we all need to take care of each other. stuart: and that's why we have charity. the left does not like private charity. you want to force my hand through taxation. >> i don't think it's true at that the left does not like charity. look, if christians stepped into the gap and filled that gap then we wouldn't have the need for the government to get involved, but the fact of the matter is most christians are not giving as much to charity as they could be giving. they're living in their little mcmansions. stuart: who says? >> i say. stuart: it's well-known that republicans give more to charity than do democrats and that's-- >> you give more to charity is not the same thing as giving as much as they should be giving or making the sacrifices that they should be making. stuart: tell me ms. powers, do you tithe. >> of course i do. do you? >> yes, you got me, you got me. you tithe. >> yes, more than 10%. off the top.
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>> 10% bottom of what i would tithe. because i am a christian i live in a 525 square foot studio apartment i moved into so i could give more to charity and i think that's really the types of things that christians are called to do. and i don't think, look, i don't want the government being responsible for taking care of the poor. i think it's the church's responsibility and i think the church is better at it, frankly. i don't think that the church is doing as much as they could be doing. stuart: you've got to come over and see the free markets. >> i'm with pope francis, pope francis talked a lot about it you, he doesn't see anything in the bible about the free market. he's critical of the free market. stuart: capitalism, doesn't like it. but further down in his statement, paragraph 242, i think it was, he does not like collectivism. he stands for the freedom of the individual, which is very, very important. >> sure, but what do you mean-- what do you think that the democratic party is doing that's collectivism?
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>> how about obamacare? you are forced to take government policy. you are forced to buy an insurance policy which you may or may not want, but which fits this collective-- >> but you're forced get medicare and social security. we've got lots of programs, do you oppose those, would you not have social security? >> obamacare takes it one step further. >> i don't think it does. it does the exact same thing. stuart: let me ask you a personal question if i may. >> you may. stuart: how did you turn around? how did you, seven years ago something happen? >> it's a long sort of process, but i started dating somebody who was a christian and he took-- he basically opened-- i grew up episcopalian, but i wasn't a serious believer and i sort of became an atheist as i became older and he said look, you can come to church and read the bible and reveal himself to you. i never heard that before and honestly i didn't think i was
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going to become a christian, but i was curious and i started going to church with him. redeemer presbyterian, and i would recommend him to anybody, a brilliant, brilliant pastor, intellectual and he made the case. and i eventually came around and next thing you know i was a christian. stuart: and i could sit here and talk all day about this, it's a subject that deeply interests me. regrettably we're out of time. >> thank you. stuart: one of our favorite guests. >> thank you. stuart: kirsten powell, everybody. dennis kozlowski, the poster boy for corporate greed. he'll be paroled in january. my take on that is next. ♪ [kevin] paul and i have been friends...
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>> well, just look at hewlett-packard, it's cutting 1100 jobs overseas and the stock is hitting a new high. up 3%, not bad. if you want to see an animated disagreement over obamacare you might in a couple of minutes when zeke emanuel, the brother
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of rahm is here. and a star of house wives who's made a ton of money, she's here. six weeks from now, dennis kozlowski will be released from prison parole. here is my take. it's about time. kozlowski built a conglomerate tyco and went to the moon, but dennis fooled around the with money. and he received unauthorized bonuses when enron's collapse was making headlines and rogue executives were unpopular. people were outraged. the prosecutors went after him. it emerged that kozlowski bought a $6,000 shower curtain using tyco money. you can imagine the outrage and details emerged of his $2
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million party for his then wife. that party was a lavish and there was an ice sculpture urinating vodka. he became the poster board of corporate greed. the community ignored tyco's success and the money that the shareholders made and the focus was on the wicked executives who looted the company and kozlowski was convicted and spent eight years in jail. was justice done? you be the judge. in my opinion prosecutors made an example of kozlowski and in doing so set the stage for an era of distrust in corporate america which we are living with today. and again, in my opinion, we're not better off for it. ♪
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day. dr. emanual is tough, outspoken, an architect of obamacare and he's here. washington councilman vinson's the decisions and orange, is the the robust orting they see? with the close it down? the poster boy for corporate greed gets out of jail next month. was justice done? the judge is here under that. students adding college to the debts. congressman charlie kirk seeks
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that out and an ex-husband in prison, her father is in prison, she is a mob wife making serious money and she is here too. ♪ stuart: first let's outline some of the problems we have seen with obamacare, the security of the web site serious concern. million additional plans canceled next year by employers. the law's supporters said it is aoki, the plan on the exchange cost less too. joining us is one of the architects of obamacare, easy keel emanual, doctor, thanks for coming by. you really enjoy his. >> tell the truth to your viewers. stuart: you got 15 minutes on
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msnbc. how long will you get here? >> not enough time. stuart: i want you to look into that camera and tell our viewers that if they enroll in obamacare all their personal information is absolutely secure and you will vouch for that security? >> i am not talking about the confidentiality issue. what we discussed is whether obamacare will enroll enough people and is going to be -- stuart: you are going out there, urging people to enroll in obamacare and you won't tell our viewers who you are urging to enroll, if it is safe? you won't give that commitment? >> that is not why we are here. we are here to talk about health insurance and millions of people who have gotten health coverage at a better deal who were excluded. let's remind your viewers that
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before obamacare went in we had forty million uninsured people and republicans had no plan to ensure them. now we are offering millions of people in l.a. to get insurance without a preexisting conditions and a way to have the market competition. stuart: you will -- what i find interesting is you guys are all for competition. we create an exchange decreeing competition between issuers and driven down prices and you don't like it. i find that very strange. competition is being brought. stuart: i have a hard time not being rude. i want you to answer questions which i ask and you refused to answer. >> i am here to talk about the exchange. the market economy. stuart: very typical. you want into your talking points in you have a loud voice,
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very insistent voice and won't stop. if i interrupt you i am. . >> i am the guests. stuart: i am root of i stop you from giving talking points to our viewers. we don't accept that. we don't accept pre-arranged talking points. we ask questions and ask our guests to answer them. you won't answer question no. one. >> i am answering about the vantage of the exchanges and what is interesting is republicans keep saying we want free market, we bring you free market through the exchange and you find every reason to object to it. stuart: why do you say the policies which i have to choose from or any other person has to choose from, why do you say they are better? why understand is more coverage but who is the judge of what is better? surely the individual. let me go on. i and in america. i thought america was about
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individual freedom and liberty. it was my choice as an individual to choose what health care i want. you have taken that away from me and force me into a policy which i do not want and which many people cannot afford. that is an american. >> let me explain. we all believe in markets but we recognize markets need to be regulated. you can't just have an open market and one of the things we all believe in and everyone in america thinks we should not have preexisting disease exclusions, we should not situations where you can exclude people because of their age or other reasons and to have that market you need to have that kind of market you need to have some rules and the rules i you cannot go below because one of the reasons if you don't have the central benefit, we are going to exclude cancer care, that is how you surreptitiously get in preexisting conditions.
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you have to have a regulated market. stuart: you will tell people what the minimum payment is. tell people what the minimum is to allow free competition. charles: millions of people have gotten notice they are losing their insurance, secondly they are offered much more expensive than they can afford and created a brand new entitlement by subsidizing people that were making 400% above poverty. you guys always brag about eliciting fruit, the preexisting conditions part. you don't need 2,500 page bill for that. there are some any other part you won't address. >> three points to what you said. it is not 2,500 pages, the is 904 pages. charles: that is a lot for preexisting conditions. >> that is not, only a quarter of the bill is about coverage.
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let me finish. before subsidizing people with college was not the promise. >> the cac 40 insurance. the price went up from during the bush administration. 80% -- let me finish. charles: 100% above. >> let me say the price went up, 80% after inflation between 2000, and 2009. that was after inflation. because right now family plan costs $16,000 and you working at the median wage which is 55,000 cannot afford $16,000 without subsidy. charles: people have plans they are happy with and could afford. >> who were those people? people without preexisting conditions who were relatively well off. let me finish. let me finish.
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in the individual market, 70% of people will get better coverage at cheaper prices. better coverage -- better coverage and cheaper plans, better coverage at the same costs and better coverage with more cost. 25% of people will have a situation where they are paying more. charles: how crazy as this? are telling me i will get the same coverage, i can spend more on the same or less. >> depends who you what would you are getting a subsidy war not and as i said at $16,000 there are very few americans who can write a check -- charles: a trillion dollars into a room and someone has to the poor. >> half of the money is saved by being more efficient in medicare and medicaid and half are on taxes by people who should the.
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stuart: you want people to sign up. you want them to put their personal information, give you another chance, that is your you say you put yourand say you personal information, you're an architect of this, but your personal information into this and it is secure. >> i put my personal information on the web site when i was trying to look for information. i was very confident. stuart: what is it secure? >> you are asking me to guarantee something someone else has done. stuart: when you are telling people sign up. >> i think it is a good deal. stuart: you won't secure their in formation. >> it is a good deal. stuart: you have any personal liability? suppose we get identity theft down the road. are you liable? no, you are not liable. dr. -- it was fun. thank you very much. back to the markets, check the big board.
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we are down just two points. that is what we got you. the price of gold is down again, it was up earlier, the price of gold up by 1226. to nicole petallides at the top of the our new home sales surged. check the home builders. nicole: the group here right now have underperformed, mixed bag, pulte group, up arrows, leonard pulling back. a couple things to note. people are mortgage rates on the rise, mortgage applications fell, this is the 30 year number moved across 4%. look at the ten year bond, 2.82%. this particular new home sales number which is a 20% was good news and that is great news. hunting starts recently looked better but overall people are still worried about mortgage reits on the rise as the fed may
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caper. stuart: pending home sales surged. new home sales surged. the market turned around. are we saying home sales number turned the market around? we are up 5 points. charles: we are at the point when the market wants good news and a lot of people say when the fed is out of a picture the market crashedes? the market pulls back and will resume a rally based on better economic data. stuart: that was clear cut. clarity is what we love. got to move on to the price of oil. libya, nigeria, iraq, iran all want to raise oil production. opec is worried about the oil we are producing in america. it seems to me the world next year for sure will be flooded with oil and i don't see what oil hasn't gone up $90 a barrel. i don't get it.
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>> up at terrified of losing control of oil, based on the fact the united states is producing million barrels of crude oil. this is the first time in a couple decades and also in the cards that we could become exporters, that is according to many analysts cringing these numbers, we could become exporters but important to point out we are producing more oil than we are importing today, a major threat to the oil cartel. this is huge. stuart: opec is meeting today and i know for a fact they are in total disarray. who is going to cut production? none of them want to. thank you very much. of full show today. apologize for the short time. unions taking big hits in diesel it. a judge allows the city to file
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for bankruptcy, he says public pension funds will be cut. illinois state senate passing a bill to overhaul the state's public pension system. it will cut benefits to existing workers and retirees and number 3, the national transportation safety board yanking the real union out of the investigation into that new york city commuter train wreck. three items. what do you make of that? charles: desperation, desperate times for unions and they're taking the wrong tactic. this whole thing, these restaurant protests. from the public-relations aspect, the guy who goes on tv revealing what is being executed, they lost a p r wore long ago. maybe two decades ago they had commercials that say look to the union label and people did. they felt a kinship. now the unions and no one else, sacrifice our kids, sacrifice corporate profits, second vice younger workers for older
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workers, unions have to wake up, have any tiffany and go back to the drawing board. stuart: they are demanding living wage, higher minimum wage. they want to legislate higher wages. i don't think is going to work. charles: it will be a backlass. stuart: the dow continued its turnaround. we were down 40 or 50 points and now we are up 16, back above 59. the majority of young people blaming colleges for their debts saying it is a major problem so where is the responsibility? is this an example of the entitlement generation? we ask a millennial after the break. hi honey, did you get e toaster cozy?
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yep. got all the cozies. [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. so i kn untilt was full. you'd be crazy not to. is tt nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. [ male announcer ] fedex one rate. every day we're working to and to keep our commitments. and we've made a big commitment to america. bp sports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger.
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stuart: we didn't have time for rite-aid. charles was going to tell us it was good. charles: the cautionary tale,
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61% of rite-aid, took profits. up 61%. and debate about the market, do you sell it because it was up? back to rite-aid they are doing extraordinarily well, complete turnaround, the stock could get to $10. it is a $43 stock before the accounting scandal. stuart: when icn stock at 6 and charles payne says get up to 10 but a lot of people out there salivating. charles: we made a lot of money on it so far and we got back in and i felt good about this. stuart: do you buy some more? at $6, charles payne says by it and it is december 4th. charles: zeke emanual. stuart: a new poll, more young americans are putting the blame for student loan debt on colleges and universities rather
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than on themselves. turned at the u.s. a charlie kirk who just turned 20. hold on. whose fault is it? the students seem to be blaming the colleges, like false advertising. you lord me into this and charged me and on and leg and i got that. the other side is i'm a bad decision, to again a lot of dad and i was foolish. >> there's another side not being addressed and that is the side of the federal government. when i was applying to colleges every single day leading up to my college application i got an e-mail from the federal student loan committee saying you got to pay the student loans almost predatory, they're pushing and pushing, we have to ask ourselves how our students able to go to these overin flea universities with high tuition? the federal government comes in with low-interest loans and the federal government is pushing at you and the politicians keep rates low the order to buy
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votes. charles: do you talk to your friends and liberal kids, the obama administration pocketed $41 billion in interest of these loans as they said we are going to get rid of them, vote for me, you can't have it both ways, making tons of money. >> they continue to vote for these policies. never have we seen again degeneration so immediately affected by the policies they voted for themselves twice. you saw young people vote for obama and now they're being negatively affected by the same policies almost immediately. stuart: isn't it obvious kids in college saddled with massive debt and don't have a good job probably when they walk out university boards. are they not beginning to see politics in a different light? >> that would be the common sense way of looking at it but on college campuses we see politicians frame it in ways of social issues. that is the way it was in the election cycle but these young people in 2012, look at
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obamacare. we see policies so quickly turned against the generation that voted for them in 2012 and you would think i voted in 2004 obama. and the turnaround in 2012 and looking to the student loans? there pushed like predators' on these students. stuart: in the last two presidential elections president obama won an overwhelming plurality of young people's votes for students or youngsters, he won a plurality. do you think there is any chance come 2016, years down the road that situation will be reversed? >> it could be reversed and the lot is incumbent on republicans on making the case, depend on the candidate, the messaging, the outrage, lot of things. stuart: you need republicans to go to universities. >> there was a study that democrats good universities more than republicans and bring in more liberal speakers than republicans and go to the lecture hall every single day kids are getting a liberal perspective and the..
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i am taking online classes and running this organization. i have no student loan debt. i am taking online classes, doing some exciting things but i will graduate debt-free and young people should take more interesting creative ways. i won't be settled down and my friend taking $120,000 loan to study children's storytelling and that is a true story. to study children's story telling. stuart: maybe their debt is the billionaire. >> lot of avenues to go but in 2014-16 the case has to be made in a way kids understand our reach. stuart: by 200048 you will be the president of the united states. charlie kirk, good stuff. two stories from d.c. "after the bell" -- after the break. walmart opening two stores, 600 jobs added, 23,000 people apply for those jobs and there is this. d.c. city council approved a minimum-wage hike to $11.50 an
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hour by 2016. d.c. council member joins us after the break.
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stuart: housing numbers turn things around. the dow was up 35 points, $59.50. in washington d.c. walmart
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opened two stores, 600 new jobs, 23,000 people applied for those 600 jobs. those store openings were strongly opposed by our next guest, vincent orange. welcome back to the program. walmart has opened these stores. you didn't want them opened. 600 jobs created. would you clodown? >> absolutely not. i did not want them in the district of columbia, what i indicated is we wanted them to come in and make sure it's a shared the prosperity and a $12.50 per hour but there was never a case where we did not want walmart in the city. stuart: they are not going to pay $12.50 an hour. they will pay $11.50 by 2015 but nowhere near that now. do you still oppose walmart? >> walmart's employees will be receiving the minimum wage
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starting july 1st, 2014, $9.50 per hour, and it will be increasing the next two years after that. at the end of the day all is well in the nation's capital, we will have a minimum wage, that was our desire and indexing between 16 so eventually it will be tied to the consumer price index. stuart: when you have 23,000 people lining up around the block to get the job at walmart, doesn't that tell you people want to work regardless of what you think they should be earning? they want to work, 23,000. >> what it tells me is walmart is in the nation's capital and the council stood strong and on a vote yesterday 13-0 we will have a minimum wage in the district of columbia. it tells me walmart and the citizens of the district of columbia can exist together and prosper together and we are moving on to making sure we can
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have more job opportunities in the district of columbia. stuart: charles: you are from ward 5 which has 11.3% unemployment. the absolute highest awards in washington d.c. significantly above city average. how do you go around and look people who live in the war in the face and seldom listen, i fought to keep these jobs out and even though they came in mostly because -- if you had it your way walmart would not be opening in washington d.c.. how do you explain that to people? >> what i explain to people is your premise is false. ward 5 does not have the unemployment--the highest unemployment is in ward 8 followed by ward 7 and secondly i have been a part of the economic resurgence of washington d.c. since 1999. had the first major economic development project in 20 years in this city and was instrumental -- charles: how do you explain to constituents you want them to
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have these jobs? >> once again that is a false premise. i always wanted them to have jobs but i want them to have jobs at a living wage. we have gone to that point. yesterday the council on a vote of 13-0 set minimum-wage. stuart: walmart would have walked away if you got your way. that is a fact. >> that is not a fact. walmart was never going to leave the city. let's get the record straight. what walmart indicated, six stores on the table, they would halt any discussions on three of those and decides whether they would move forward with greasy -- three stores that in construction and two of those stores opened this morning, at the preopening last night at the eighth street store and this morning at the opening on georgia avenue so all is well. there is no issue here. the only issue is we are
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employing citizens in the district of columbia and they will make the minimum wage. stuart: thanks for joining us, see you soon. dennis kozlowski will be paroled, the poster boy of corporate greed. did he get justice? did he get what he deserved? the judge is next on that. [ male announcer ] 'tis the season of more.
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out of the wrong hands. a $29 value free. ♪ ♪ because during the holidays, keeping your identity protected means keeping your family protected. stuart: first-base, highlight from our interview earlier this hour with the architect of obamacare, ezekiel emanuel. stuart: you want people to sign-up. he wants to put their personal information. that is your camera, right there, look into it and so you put your personal information into this and it is secure. tell them. speak up with my personal information on the website when i was trying to look for information and i was very confident. stuart: is it secure?
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>> i don't run it today. stuart: by the way, just got this new survey from harvard, 29% of millennial's currently uninsured say their sign-up for obamacare. young people, you've got to have them in the insurance pools otherwise i think i am right in saying you have the spiral for the insurance. charles: 29% say they definitely will, maybe half will do it. by the way, the same survey found 56% disapproved of the law. stuart: really? charles: if you call it obamacare, 57% disapprove. it is an unmitigated disaster. still passing talking points from 2010 about existing conditions. stuart: it is going to be cheaper and better. wrong on both cases.
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charles: it is not even a? what they say that will cost more, we will get somebody else to pay for it. trillions of dollars added to the rest of it. >> did he know you cannot keepx your doctor or your health insurance when they advise obama to go out and say that? stuart: he says this is all fox news drumming up opposition. that is why we have trouble. >> causing the cancellation of the health insurance policies? stuart: it is not us. certainly not. but i digress. look at this. former chief of tyco international convicted of using his companies funds to live a lavish lifestyle. he has been in prison since '06. did his crimes merit eight years
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in the slammer? was he the victim of a witch hunt? >> the prosecution was one of the great modern injustices of our time. he was prosecuted by prosecutors because the wave of public attention and republics lost to go after hig high living businen spending money on things that seem irrational to middle-class was irresistible and when you have prosecutors who run for office, they will often feel prosecutions by what will make them less popular. he was convicted of receiving $134 million in inappropriate bonuses in his years at the present of tyco. took tyco for my small paint company to an enormous
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multinational. he made a lot of people wealthy. every one of the bonuses he received, every single one was approved by the board of directors. second-guess how they want to manage the assets legally authorized to manage. charles: the two things that did him in. it was revealed he bought a $6000 shower curtain using tyco funds. ordinary people will say $6000 shower curtain? number two, he held a massive party for his then wife, $2 million taken from tyco funds and it was a drunken revel in the center of the ballroom there was an ice sculpture urinating vodka. the media got pictures of both items and he was ruined. >> the judge permitted that information to go to the jury which does not in inform the jury, inflames the jury. not only did he pay back every penny, he paid a fine of
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$100 million on top of the $134 million he paid back. who received it? the prosecutors who prosecuted him. that is reprehensible. the government did not suffer $100 million in losses to prosecute the case. stuart: i did not know it was that bad. on january 17 on parole. he served the maximum i think he was sentenced to 8.33 years. >> up to 25. he served just about eight. stuart: i didn't expect him to come out. >> neither did i. very interesting book. forgive me, don't remember the author. a journalist who had access too many insight documents.
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she started out writing a book believing sh he was guilty of am and began writing that he was a victim of government overreach. stuart: fast-forward to today, don't we have the same atmosphere? just to get the fed off the back? charles: is any hint they are agreeing to that they did not sue them for criminal? why do you give up all this money, could that be one of the angles? stuart: it is unethical for a lawyer to threaten criminal prosecution in order to help settle a civil dispute. that does not mean it is not done and they don't have a way to do it, but it is enough for the lawyers to do it.
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stuart: tonight neil cavuto has exclusive interview with katherine neil. taking down the lion. say he got a raw deal. >> absolutely. stuart: tonight at 8:00 eastern on cavuto. government shutdown? what government shutdown. stuart: hundred $80,000 on booze right before the shutdown. your tax dollars on whiskey and champagne. that is next. she loves a lot of the same things you do. it's what you love about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms obph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask your heart is healthy enough for sexual activity.
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tdd#: 1-800-345-2550 so youan take charge tdd#: 1-800-345-2550 of your trading. stuart: look at walmart, best single sales day ever online on monday of this week. the stock is up again 81 for walmart. jcpenney down 3%. bad news, it was one of your picks. bad pr for google? if you search for items using the shopping feature, you're yoe likely to pay more. the stock is up $8. let's take a look at abercrombie and fitch. the stock needs a new chief. it went straight up on that news yesterday, down 2% today. other retailers down, sears and ebay, both of them losing the big one. we will be back momentarily.
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we will bring you the story of microsoft and why it is another new high. commitment to america. bp supports nearly 250,000 jobs he. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've iested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger.
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stuart: ladies and gentlemen, let's go to nicole because microsoft is at a new high-end nicole will tell me why. nicole: all the microsoft shareholders out there, probably some fund or whatever. of course selling the debt, you
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can see that on the banner, they continue to do well with the xbox one outpacing the sale of the playstation at least on black friday. i was reprimanded by my family. my husband and boys s you cannot compare the sales of xbox one and playstation on black friday because playstation four came out weeks ago. many people bought it. it is a finagled number. stuart: microsoft raised $8 billion. they borrowed a billion. very low rate of interest. i don't know why they did that, but they did it and maybe that has something with microsoft going up. all i know is another new high for microsoft. good stuff. charles says he will make us even more money. never recommended microsoft. he says making money.
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charles: this is a global play for me now. some of the crazy acquisitions. now it is over 53% and they are in the right place. buying the facility in brazil. the easy export import numbers? strong export numbers to brazil, china, mexico. they will do very well. whenever you open these new mcdonald's and kentucky fried chicken. stuart: al all right, this next story is for you. the department spent $180,000 on booze right before the government shutdown. this is what government does, by the way. they spend the money right before they have disbanded because if they don't, they will
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lose it. three times the 2008 budget for alcohol. charles: if they don't spend it, they lose it. the whole notion of raise the debt ceiling, we need more, spend it because you have it or don't have it. stuart: how can you stop spending, cut spending? as soon as you allocate the money, it will be spent. that is the way it is. charles: i love the idea of giving those cuban cigars before the embargo of cuba. stuart: did he do that? charles: oh, yeah. this is ridiculous. this is the kind of stuff we should have sequestration or a government shutdown.
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stuart: 5% cut in spending across the board. after the break, reality tv star turned clips like this into patron >> i don't sleep with people's husbands, i have no respect for her. >> do you want to talk to her? >> talk to her? i would rip the vocal cords out of her throat. put my heel through her for head.
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stuart: reality shows have taken over our tv. from the kardashian's to the jersey shore to the real world. now a new trend turning tv celebrity into real money. right now we have with us the start of "mob wives" which premieres tomorrow. welcome to the program. >> thank you for having me. you make it sound so good. stuart: are u.s. tough as you make out to be on tv, or is it an act? we have a clip of you say you're going to put your heel through somebody's forehead. >> i am a very strong woman. absolutely. stuart: never hurt someone?
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>> i wouldn't do that. stuart: or at least admit to it on television. >> ever admit to anything, especially on paper. stuart: do you have a soft side? >> i good. it is great to let people know i am a great person and a sweetheart. if you cross me, i am very defensive. i like to protect my family and anyone i consider family so then you will see the harder side of me when it comes to my son and family i am such a mush. stuart: i want you to tell us how you convert your parents on reality tv, how do you convert that into real money, what are you doing? >> my sister, jennifer, the creator and executive producer of "mob wives," it is all about her for me.
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i have the store, my dress line, and jewelry. stuart: that is your line of clothing. it is delightful, by the way. a very specific style for you. >> it is online. hopefully it will be a store, but right now it is online. stuart: so you're branching out from the store to what else? >> i have two books. it is called how to use a meat cleaver. it is a family cookbook. charles: the question would be have you ever used a meat cleaver. >> i was inspired by a meat cleaver. to chop up a lobster, absolutely. my father's home.
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stuart: he was in prison. your ex-husband is in prison? >> my ex-husband is somewhere, from my understanding yes, he is in prison. stuart: that image clearly sells. >> yes, it does. it has made us money. stuart: have you made a million dollars outside the reality tv show yet? >> according to the irs, i think i have. that is the one thing i have to say i enjoy about making money, paying my taxes. stuart: anybody that can convert mob wife image into million dollars gets my vote. good luck with the books and good luck with the new series tomorrow night. >> thank you. stuart: your take on the poster boyd of corporate greed. your take on that is next. i didn't know the coal thing was real.
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stuart: last hour i gave my take on than is being released on parole next week. is your take. he was over the top and hard to like. if he was in government, he would have been a hero. anne-marie tweet too bad prosecutors can't go after government officials that loot for themselves like they did. good point. charles, he was a poster boy for corporate greed and he set the tone for the public tone for the matter. charles: all the problems out there, the punishment was egregious. stuart: they piled onto it. charles, thank you for joining us. connell, it is yours. connell: thank you. it is coming down to cutting pensions in the city of detroit.
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now that the court has ruled in favor of bankruptcy, the next question becomes what happens to the city retirees clinging to those benefits? and the president is pushing this hour for a higher minimum wage. the congressman to talk about that. by your gifts online, paying tax, others don't, supreme court doesn't want to get in the middle of it. judge andrew napolitano has no problem getting in the middle of that. and then, consolidating your wallet into just one card. the high-tech idea could be the way we shop in the future. it is all coming up along with dagen mcdowell on "markets now." dagen: giddyup. changing out of the shirt you had done earlier and now you look more businesslike. connell: i will take that as a complement on both sides.